Watchlist for 7-21-17

Kinda taking the summer off, but it is hard to stay away!!

I always have a plan for long or short on any chart I am looking at. – KEEP IN MIND I AM A NOVICE- do your own due diligence. I am always studying new things to give me a little more edge over the next trader.

I am a support and Resistance Trader, mostly! I plot them out on the weekly/daily and then the intraday with a nod to the current last fews days trend and the overall trend it is in. but I play the chart handed to me on trade day.

I am not trying to call price targets or trends and swing plays for days or week, I just look at charts that have range to play or are at break down or break out levels. But each day is new on the market and a trend can change and break your chart so be prepared for that, long, short and sideways.

Do your own DD and have a plan for each morning, long or short and be aware of the market you are in, bear market, bull market, how is the VIX  today? the SPY? is the ticker you are planning to play in the hot sector, cold sector? What is the most recent catalyst? How is the volume? Is there enough average shares traded daily to get in and out with ease? 1 milion average volume is about the minimum.

The day before was the ticker barely holding up, did the stock close strong? was the strong close just shorts covering or is it organic want and desire from true longs who are now bag holder to defend this price point and zone? Are you playing a breakout play, a wash out then buy the bottom? LOD bounce and long? Resistance deflection and shorting the pull back, ETC ETC? Know your patterns that you like to play and what kind of stock – in which sectors – and the catalyst that drive price imbalances on them to get the best edge for you skill set.  -Trade Safe-

Cash is also a position and the safest position to be in. When it doubt-pull out-reassess and re enter the proper hole/set-up =P

I usually like to chart the not so obvious hot play of the day but sometimes they are too hot not to play for the follow up the next day and this is my watchlist with my notes to refer to during the trade day!

Sector: Biotech

SNGX:  Liking this for an either way play if it can get the volume to break over that 3 mark and that 200 sma I wouldn’t mind a long on it failed with some heavy ask side stack up then i will be happy to short it

Volume:820k pretty low for me

Float:4.9 mill

Income: -3.8mill. POS

Sales: 9 mil

Insider/ Institutionally owned: 0%ish and 7%ish

Catalyst: buncha useless fluff

B Grade Setup:

Kinda a back burner watch it for set ups kinda play

 

Sector: Biotech

CBAY:  Pure short. Offering at 6.50 of 50% plus dilution to the float. plus warrants and other stocks ready to be sold in at 4-5 bucks with warning that there is more dilution to come in 2018

Volume: 2.8 mill

Float:28 mill

Income: -25 mill POS

Sales: 4.8 mill

Insider/ Institutionally owned: 5%ish and 40%ish

Catalyst: bs price upgrades to 15 bucks from the underwriter who wrote the offering to help soften the dilution blow

A Grade Setup:  loses money. up on bs fluff and has a huge offering on it.

So if you want to practice level 2 and time and sales reading to see what a bs MM bid propped stock looks like then this is one worth watching. they are hell bent on getting the break out on this no matter how much bid refreshing and shares they have to wrench it up with. totally not organic retail order flow for the most part on this and not block buys either. just key buys at breakdown levels to fend it off

HK:

Been on my radar and my main trade now for a few days. Thought it would get the 200 sma test and rejection but it is running out of life. needs more bs fluff news to push. Short setting up nice

C- set up.  I won’t go into why till this play is over with. was as i figured, they are working that over 200 sma res check which coincided with the “analyst” upgrade

Sitting on the overhead res is 11 and the 200 sma. intraday and the recent trend is looking pretty good and is coming off the lows. this is a total long for me first. and only a short if there happens to be some sell side pressure come in at the 200 sma

Sector: Business software and services.. hot as fuck right now

$DWCH:  Long trade idea with a nod to a short if it can’t find the guts to clear the 11 overhead res and the 200 sma

Volume: 798k kinda low

Float: 9.5 mill

Income: -10 mill POS

Sales: 33 mill

Insider/ Institutionally owned: 11%ish and 37%ish

Catalyst: earnings, conference call. etc etc bs

B- Grade Setup:  loses money. up on sympathy sector it seems.

 

 

Noteable Mentions:

 

OMNT: could be even more downside here to the 5’s intraday volume and price action to confirm

ESES: looking like it has some gas in the tank to test those over head res of 1.94 to 2. possible long or short. volume and price actin to confirm direction in the morning

 

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